5 Money Tips For Shopaholics

Everyone loves a brand new dress or a pair of sunglasses or the latest shoes that are up on sale. And while shopping is fun, there is a very thin line between healthy shopping and being a shopaholic. So, to help all the struggling shopaholics out there, BI India comes out with five basic tips before they hit the stores!

Decide the budget

It isn’t for no reason that every government in the world comes out with its annual budget. Budget helps you plan your expenses and thus, allows you to put in a little thinking before shelling out all your money on those goodies out there. So, before you help out our staggering retailers to rake in the moolah, ensure your generosity doesn’t burn a hole in your pocket!

Save a portion

Once you have prepared your budget and fixed an amount for shopping, take the money out of your account and keep it someplace safe. The banks offer various saving options that can be used to make some saving before you decide to splurge in that store having your favourite bag on its display.

Say no to credit cards

Credit cards are a big no-no for shopaholics. While you may not be parting with your hard-earned money immediately, it certainly does hurt to see the long bills that come knocking on the doors at the end of the month. Instead, use the debit cards that reside there in the wallet. Not only does it pay for your shopping, it also keeps a check on how much you have already spent by declining to pay anymore.

Shop at the right places

Wise men have always said that cut your coat according to your pocket. It basically means that you should remember how much you earn before you go shopping. Does your income allow you to shop at premium stores? Does street shopping suit your pocket than going to a mall? Ensure that you have a balance between branded and fashion junkies.

Be the sales champion

The festive season is around and every retailer has come out with attractive discounts. Go through every store to see which one offers the best discounts. It’s best to get over with a major chunk of shopping essentials while the sale is on than pay double later.

Representational Image: Indiatimes.com